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Signature Attijariwafa
As the AFD Group celebrates its 40th anniversary in Mauritania, Proparco and Attijari bank Mauritania (ABM) signed two guarantees that will cover loans granted to companies for a total of 5.5 million euros. These guarantees will enable the bank to strengthen its supports to Mauritanian SMEs.

Support for SME financing, priorities of ABM and the AFD Group

In sub-Saharan Africa in general, and in Mauritania in particular, access to credit for small businesses remains limited. More than half of Mauritanian SMEs cite difficulties in accessing credit as the main obstacle to their development.

A key player in financing entrepreneurship and the private sector, ABM has been a major partner of the AFD Group in Mauritania since 2011. To support ABM's commitment to SMEs, Proparco is now granting it two portfolio guarantees that will enable the bank to improve the risk profile of its operations.

The first guarantee, of the ARIZ type, is intended for loans of €10,000 to €300,000 in a large number of sectors of the Mauritanian economy. A portfolio of €3 million in loans granted by ABM to SMEs will be guaranteed by Proparco.

The second guarantee, of the EURIZ type, is more specifically aimed at sectors with a high social or societal impact. The agriculture, fisheries, education and health sectors will thus be directly targeted. A portfolio of €2.5 million of loans, each in the range of €5,000 to €1,000,000, will be guaranteed by Proparco. The EURIZ guarantee mechanism is supported by the European Union (EU) and the African, Caribbean and Pacific Group of States (ACP).

In total, nearly 140 Mauritanian small and medium-sized enterprises should benefit from these two guarantees in the coming years.

These two projects are part of Choose Africa, France's initiative for start-ups and SMEs in Africa.

Launched in March 2019 and implemented by AFD Group, Choose Africa will provide nearly €2.5 billion in loans, equity investments or guarantees to finance and support 10,000 African companies by 2022.